Author Topic: 'World’s biggest online scam'  (Read 643 times)

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Offline Maik

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'World’s biggest online scam'
« on: Saturday, 29 July, 2017 @ 15:39:04 »
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How thousands of Britons are at risk from ‘world’s biggest online scam’
Exclusive: Lawyers tell The Independent victims are losing up to £1m each in investment fraud

Thousands of pensioners are at risk of losing their life savings in a rapidly growing financial scam that British authorities are powerless to clamp down on, The Independent can reveal.

Savers are investing their money in fraudulent online trading sites offering the promise of potentially huge payouts with little risk attached.

The majority of the complaints relate to companies that appear to be based overseas and are attracting increasing numbers of users, particularly pensioners, who say their investments are frozen if they try to withdraw their money.

The companies encourage investors to make apparently simple bets on whether shares or currencies will rise or fall in value. Many such “binary options trading platforms” are legitimate, but an increasing number are fraudulent.

Both types currently fall outside the control of financial regulators in the UK, meaning that people have little recourse to get their money back if they feel they’ve been scammed.
http://www.independent.co.uk/news/business/news/online-scam-thousands-pounds-life-savings-trading-binary-options-fraud-pensioners-fca-a7865856.html